The Oil Companies Advisory Council (OCAC) has unveiled alarming figures, revealing that smuggled petroleum products are inflicting a staggering loss of $35.6 million on Pakistan’s economy every month.
Karachi, June 19, 2023: The Oil Companies Advisory Council (OCAC) has expressed its opposition to the proposed guidelines for the import of petroleum products on a foreign supplier’s account through Customs Bonded Storage Facilities.
KARACHI: The Oil Companies Advisory Committee (OCAC) has advised the government to review petroleum prices on fortnightly basis instead monthly basis. In a letter to Secretary Petroleum, the OCAC said that due to the declining petroleum products prices experienced in February and March 2020, the whole downstream oil industry was facing uncertainty and financial exposure. […]